Wednesday, October 1, 2014

(Related update): A Frack-tious Issue for the Enviros

Related update:  Due primarily to fracking, the United States is set to pass Saudi Arabia as the world's largest producer of liquid petroleum products.  As Walter Russell Mead notes in his blog post covering this development,
With productivity continuing to rise, the United States has a chance to become the single biggest producer of crude oil sometime in the near future. If you had said that a decade ago, you would’ve been laughed at and called a fool. What a difference fracking makes.
Click here to read  his post and for further info, he's included a link to a Financial Times article discussing this topic.  [ht: instapundit.com]

Original post (7/7/14): Another excellent EconTalk podcast by Russ Roberts a few weeks back, this time on the topic of America's shale boom and the fracking process that led to it.  Roberts interviews Gregory Zuckerman; here's the description from EconTalk:
Gregory Zuckerman of the Wall Street Journal and author of The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters, talks to EconTalk host Russ Roberts about his new book, the rise of hydraulic fracturing (fracking), how this technology developed, and the vibrant personalities that pioneered the energy revolution. Topics discussed along the way include the history and future of fracking, environmental concerns about the process, and how the story of fracking is the classic tale of the successes and failures of determined risk-takers. The role of market forces in driving that success and failure runs through the entire conversation.
As always, the hour-long investment in time will pay you back many fold.  Check it out here!